Suburb Profile Report for Wyndham Vale VIC (3024)

Wyndham Vale House: Median price $467,500, Annual capital growth 6.00%, Number of sales 271, Weekly median advertised rent $360

Wyndham Vale Unit: Median price $376,500, Annual capital growth 5.43%, Number of sales 22, Weekly median advertised rent $340

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Over the last year, property investments in Wyndham Vale, 3024 have given investors a capital gain of -1.68%. This compares badly with the 2.87% for VIC as a whole.

Wyndham Vale,3024 has offered an average of -1.68% return per annum in house price rises to property investors over the last three years.

The most recent median price for Wyndham Vale is $467500, with sellers offering an average of -6.32% off the asking price.

Often selling an investment property can take time, and in Wyndham Vale the average time real estate has been on the market is 66.4753 days.

With the median price for a house in Wyndham Vale being $467500 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 4.00%

Property investors who have had real estate in Wyndham Vale, 3024 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 8.35%

If we look at median property appreciation over just the last three months, Wyndham Vale has given property investors a paper return of 0.40%. This puts Suburb as 225 on a list of fastest fasting appreciating suburbs in VIC

Information supplied by:


May 2018

M
O

W
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Housing stock tightens

Postcode: 3024

Median house price: $445,000

Stock on market: -52.0%

12-month growth: 17.1%

The large suburb of Wyndham Vale saw housing supply halved over a 12-month period when the number of houses dropped from 589 to just 280 from February 2017-2018.

This could have helped spur demand, as the suburb recorded a 17% price increase over the same period. Nonetheless, houses are still reasonably priced at a median value of under $450,000, a possible factor in how quickly these properties are selling on the market. The average time on market is just 39 days, reflecting Wyndham Vale’s popularity.   

The suburb is home to several sports clubs, who make their bases at Wyndham Vale Reserve and President’s Park. Wyndham Vale is also an education hub, with four primary schools in the area. Residents have access to amenities like medical services.

Metrics i HOUSE UNIT
$467,500 $376,500
-0.11% 0.40%
-1.68% 8.35%
6.00% 5.43%
$360 $340
271 22
4.00% 4.70%
66.47533632287 60.25

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 17304
Median household income ($/weekly) 1356
Median age of persons 30
Median housing loan repayment ($/monthly) 1700
Average household size 2.9
  • Census Count Percent(%)
    0-4 years 1814 10.5
    5-14 years 2810 16.2
    25-34 years 3553 20.5
    35-44 years 2790 16.1
    45-54 years 1879 10.9
    Others 4459 25.8
    Age Group
    Census Count Percent(%)
    Registered Married 5787 49.3
    Not Married 4444 37.9
    Defacto Relationship 1507 12.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 11976 73.5
    Indonesia 547 3.4
    Papua New Guinea 546 3.4
    United Kingdom 799 4.9
    Other 884 5.4
    Others 1542 9.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 231 1.5
    Christianity 9992 64.5
    Hinduism 460 3.0
    Islam 395 2.6
    No Religion 4188 27.1
    Others 214 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 502 9.7
    $1,000-$1,249 593 11.4
    $1,250-$1,499 577 11.1
    $1,500-$1,999 934 18.0
    $2,000-$2,499 688 13.3
    Others 1886 36.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5595 46.6
    Not in the labour force 3362 28.0
    Employed, worked part-time 2008 16.7
    Unemployed, looking for work 553 4.6
    Employed, away from work 489 4.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1164 14.4
    Technicians & trades workers 1269 15.7
    Community & personal service workers 851 10.5
    Clerical & administrative workers 1405 17.4
    Machinery operators & drivers 918 11.3
    Others 2486 30.7
    Occupation
    Census Count Percent(%)
    Pre-school 335 7.9
    Infants/Primary 1731 40.7
    Secondary 1150 27.0
    Technical or Further Educational Institution 366 8.6
    University or other Tertiary Institutions 421 9.9
    Others 255 6.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16070 98.1
    Flat, unit or apartment 214 1.3
    Semi-detached, row or terrace house, townhouse 80 0.5
    Improvised home, tent, sleepers out 9 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 3304 59.0
    Rented 1383 24.7
    Fully owned 893 15.9
    Other tenure type 23 0.4
    Tenure Type
Census 2011, ABS
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